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CORPORATE PRESENTATION – Crew Energy Inc.

Crew Energy Inc. · Oct 1, 2014 · 33 slides

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Slides

  1. CORPORATE PRESENTATION – Crew Energy Inc. – slide 1
    CORPORATE PRESENTATION October, 2014 SHARPENING OUR FOCUS 1
  2. CORPORATE PRESENTATION – Crew Energy Inc. – slide 2
    INVESTMENT HIGHLIGHTS MONTNEY FOCUS LONG TERM GROWTH Exposure to world-class Massive resource in early Montney resource (109 TCFE) stages of development (0.6 TCFE 2P reserves booked) Large, contiguous land base (492 net sections)…
  3. CORPORATE PRESENTATION – Crew Energy Inc. – slide 3
    FOCUSED OPERATIONS Montney (Core focus) Resource play with long-term growth potential Montney Fort St. John Oil / Liquids rich natural gas / dry gas Lloydminster Heavy Oil Low maintenance capex Edmonton generates free cash flow…
  4. CORPORATE PRESENTATION – Crew Energy Inc. – slide 4
    World-Class Montney Resource 5
  5. CORPORATE PRESENTATION – Crew Energy Inc. – slide 5
    WORLD-CLASS MONTNEY RESOURCE 109 TCFE of TPIIP CREWS COMPETITIVE ADVANTAGES: Built & consolidated a major high working interest, operated land position in the Montney (492 net sections, 90% undeveloped) Access to 3 hydrocarbon…
  6. CORPORATE PRESENTATION – Crew Energy Inc. – slide 6
    GROWING MONTNEY ACREAGE Sharpens Focus Montney (2007) Montney (2010) Montney (2014) P+P Reserves1 (mmboe): 99.2 Oil Resource (Bbbls) 8 Gas Resource (TCF) 60 Total Resource (TCFE): 109 Production2 (boe/d): 12,200 1 Year end…
  7. CORPORATE PRESENTATION – Crew Energy Inc. – slide 7
    SUCCESSFUL EXECUTION P+P Montney Reserves Growth (MMBOE) Growth in Resource & Reserves 120.0 Liquids mmbbls 100.0 Gas mboe 99.2 80.0 Montney Resource Estimate 60.0 48.1 46.7 120 Liquids tcfe 40.0 27.7 Gas tcf 109 TCFE 20.0…
  8. CORPORATE PRESENTATION – Crew Energy Inc. – slide 8
    Crew Montney ABUNDANT AND Lands GROWING Proposed STN 2 INFRASTRUCTURE Canadian LNG Ports AECO Gas Storage Hub Multiple egress options Kingsvale diversify markets and mitigate risk Spectra P/L TCPL Nova P/L Pacific…
  9. CORPORATE PRESENTATION – Crew Energy Inc. – slide 9
    SIGNIFICANT ACREAGE POSITION Crew Montney Rights Crew Operated Pipeline Proposed North Montney Mainline Project Flatrock Alliance Operated Pipeline Spectra Westcoast Pipelines Goose Spectra McMahon gas plant Crew operated Septimus…
  10. CORPORATE PRESENTATION – Crew Energy Inc. – slide 10
    CREWS INFRASTRUCTURE ADVANTAGE Long Term Contracts for Processing AUX SABLE / STEEL REEF Crew maintains full operatorship and first right to 100% of plant capacity Crew controls pace of expansion Buy-back option at a discount to…
  11. CORPORATE PRESENTATION – Crew Energy Inc. – slide 11
    Septimus Area SEPTIMUS Initial Montney Development Area Active drilling and development program Adoption of new technology Existing 60 mmcf/d gas plant currently at capacity from area Crew Septimus plant 60 mmcf/d capacity…
  12. CORPORATE PRESENTATION – Crew Energy Inc. – slide 12
    SEPTIMUS: EXCEPTIONAL ECONOMICS & IMPROVING EURs 4.3 bcf EUR per well 500 boe/d IP365 Positive results in Septimus to date support expansion into other areas of the Montney: West Septimus, Tower & Groundbirch Well Economics1…
  13. CORPORATE PRESENTATION – Crew Energy Inc. – slide 13
    West Septimus WEST SEPTIMUS Continuation of Septimus Trend Step-out area - Montney expansion Attractive reservoir characteristics (better 02/7-5 than Septimus) Over pressured area with proven liquids-rich gas 00/8-22 Up to 220…
  14. CORPORATE PRESENTATION – Crew Energy Inc. – slide 14
    TOWER 51 net sections Emerging Montney Light Oil Play 765 drilling locations 15 wells/ section Offers near to mid-term growth with excellent netbacks Tower Able to benefit from industry experience in the area to optimize…
  15. CORPORATE PRESENTATION – Crew Energy Inc. – slide 15
    TOWER Light Oil Leads to Strong Netbacks 15 wells / section drilling plan Tower Montney Economics Capex (mm) 6.5 1 month IP (boepd) 710 Reserves: Oil (mbbls) 150 NGL (mbbls) 60 Gas (BCF) .97 NPV10 (mm) 6.1 90 m 45 m…
  16. CORPORATE PRESENTATION – Crew Energy Inc. – slide 16
    Montney Next Steps: Future Growth 17
  17. CORPORATE PRESENTATION – Crew Energy Inc. – slide 17
    NEXT STEPS: GROUNDBIRCH Delineation Area with Long- Term Upside Groundbirch Offsetting vertical + horizontal development Over-pressured with liquids-rich natural gas Large pay thickness (500 ft. Upper Montney) Planned gas plant…
  18. CORPORATE PRESENTATION – Crew Energy Inc. – slide 18
    NEXT STEPS: ATTACHIE Proof of Concept Stage Attachie Several prolific offsetting producers in Crew 10-22 well Upper and Lower Montney Recently drilled wells Proposed North Montney Mainline Over-pressured with liquids-rich…
  19. CORPORATE PRESENTATION – Crew Energy Inc. – slide 19
    ACCELERATED MONTNEY DEVELOPMENT Goal to achieve 45,000 boe/d Montney exit by 2018 (5 year plan) Free Cash Flow Positive Forecast Production Growth Capex versus Cash Flow2 50,000 450 45,000 400 61 Production (boepd) 40,000 350…
  20. CORPORATE PRESENTATION – Crew Energy Inc. – slide 20
    LONGER-TERM MONTNEY DEVELOPMENT Converting Development Into Sustainable Free Fewer wells required over time to generate Cash Flow same cash flow1 from one 60mmcf/d plant 90 OVER TIME: 80 Capital/ Cash Flow ( millions) 70…
  21. CORPORATE PRESENTATION – Crew Energy Inc. – slide 21
    SIGNIFICANT MONTNEY RESOURCE UPSIDE Achieving our 5 year plan…
  22. CORPORATE PRESENTATION – Crew Energy Inc. – slide 22
    Lloydminster Heavy Oil Low Risk Funding Source 23
  23. CORPORATE PRESENTATION – Crew Energy Inc. – slide 23
    LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Strong well economics on 6,000 BRIGHTSAND boe/d of production generates high free cash flow SWIMMING LLOYD Low capex and high capital Lloydminster LOW LAKE FOREST…
  24. CORPORATE PRESENTATION – Crew Energy Inc. – slide 24
    ATTRACTIVE LLOYDMINSTER ECONOMICS Crew Horizontal Heavy Oil Wells Type Curve 80 70 60 Lloydminster Type Wells1 Oil Rate (bopd) Lloyd Lloyd VT Single Per Well HZ Zone 50 Peak Rate (bopd) 75 45 40 Reserves (mboe) 65 50…
  25. CORPORATE PRESENTATION – Crew Energy Inc. – slide 25
    UPCOMING CATALYSTS Capex 305MM in 2014 West Septimus 20 well pad drilling DC&T Tower Drilling Results Q3 Q4 1H 2H 2014 2014 2015 2015 Close Princess Tower West Septimus West Septimus 1ST Phase of Super liquids rich 150MM…
  26. CORPORATE PRESENTATION – Crew Energy Inc. – slide 26
    UNIQUE INVESTMENT OPPORTUNITY MONTNEY FOCUS 5th largest Montney landholder in NE BC Access to multiple markets, growing egress and potential to feed long term demand Emerging light oil play 109 TCFE TPIIP Resource LONG TERM…
  27. CORPORATE PRESENTATION – Crew Energy Inc. – slide 27
    CORPORATE SNAPSHOT TSX:CR TSX Trading symbol CR Basic shares (mm) 122.3 Market capitalization 9.00/sh (mm) 1,100 2014 YTD high trade 12.74 2014 YTD low trade 6.33 2014 YTD average trading volume per day (m) 1,143…
  28. CORPORATE PRESENTATION – Crew Energy Inc. – slide 28
    Contact Info: Dale O. Shwed, President & CEO Suite 800, 250 - 5th Street SW John G. Leach, Senior Vice President & CFO Calgary, Alberta T2P 0R4 Telephone: (403) 266-2088 Rob J. Morgan, Senior Vice President & COO Email:…
  29. CORPORATE PRESENTATION – Crew Energy Inc. – slide 29
    APPENDIX 30
  30. CORPORATE PRESENTATION – Crew Energy Inc. – slide 30
    2014 BUDGET SUMMARY 2014 Assumptions: Budget Production guidance (boepd) 25,000 Cash Flow (CF) (mm) 180 Exit production (boepd) 22,500 CF/diluted share 1.44 Pricing Gas (AECO-C/gj) 4.11 E&D Capex (mm) 305 Oil (WTI-C/bbl) 109…
  31. CORPORATE PRESENTATION – Crew Energy Inc. – slide 31
    Assumptions Accelerated Montney development (slide 20) Longer-term Montney development (slide 21) 2014 to 2018 259 mm infrastructure capital AECO (/mcf) 3.75 Three 60 mmcf/d gas plants; planned on stream Q3/2015, Q3/2016 & Q3/2018…
  32. CORPORATE PRESENTATION – Crew Energy Inc. – slide 32
    NE BC MONTNEY RESOURCE EVALUATION Natural Gas Resource Categories (1)(2)(3) Tcf Reserves and Contingent Resources (1)(2)(3)(6)(7) Best Estimate Total Petroleum Initially In Place (TPIIP) 60.6 Natural Gas (Tcf) Discovered Petroleum…
  33. CORPORATE PRESENTATION – Crew Energy Inc. – slide 33
    DEFINITIONS OF OIL & GAS RESOURCES AND RESERVES Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on the analysis…

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